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Category: ABCs of Personal Finance
ABCs of Personal Finance

Argh… things are too expensive. Time to do something about it.

Food is getting too expensive right? Gone were the days when a plate of chicken rice was RM2.80(Haha… ok, I may belong to a much older generation). I remember when a plate of wanton men became RM5, everyone was shouting but today, it could have easily doubled in some restaurants. When it comes to cafes with air-conditioning, the prices would easily start from RM13.80 for the cheapest fried rice with egg to RM18.80 for fried rice with fried chicken for example.

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ABCs of Personal Finance

RM14.13 billions in voluntary contributions from 1.12 million EPF members. Have you done your part?

There’s one place where we have been getting returns of 5.5 percent or higher. Just look at the historical returns from our EPF since 2017. Yes, even before the COVID years. The below numbers are by far higher than our Fixed Deposit rates yeah. It’s also considered risk-free since EPF does not undertake risky investments simply for super high returns because it’s the money of the rakyat; us.

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ABCs of Personal Finance

You have worked for 10 years and you do not have even RM10,000 savings yet?

Without savings, there’s no way one would have a property. Without a property, one will have to keep renting lah. How much could we save every month? How much should we save every month? If we could not save enough and it’s always just enough every month, how will this impact our future? Or perhaps we can keep earning a higher salary then to solve this issue of insufficient savings?

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ABCs of Personal Finance

Aggressive hiring and aggressively high salary may just mean property investment is not needed. Thoughts?

As much as employees are no longer having that loyalty to work for the same company from the day they started till the day they retire, employers are no longer offering employment till the day we retire too. One day it could be hiring and the next day it could be firing. From being treated as someone valuable to the team to someone who’s just an extra and thus some streamlining needs to happen and thus we are asked to leave and we need to now look for another job.

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silhouette of man holding flamethrower
EPF

Treat your people well! Pay their EPF contributions on time or else…

I could not understand why people like to owe money which is due to their employees. They work hard to help the company earn more money. Once upon a time, a friend (who’s definitely no longer a friend) also did the same to his employees. Sigh. I hope that friend has changed his ways and be good to his employees. They work for you, they help you earn more money, they give their time, effort and brain power to you.

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woman holding feather pen
ABCs of Personal Finance

EPF says RM240,000 is no longer the minimum, it will be higher in the future

Did you know that most EPF members are not able to achieve the minimum savings of RM240,000? Actually, with inflation, this RM240,000 will not be sufficient to support us post-retirement. We may have to continue working or have some other source(s) of income. Else, imagine this. RM240,000 divided by 20 years divided by 12 months means we will have RM1,000 per month. If this is just for food alone, I think it should be okay. RM30 per day is enough for me as long as I do not simply walk into any restaurant. Do read what EPF has said in the media.

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